NMI Holdings Inc (NMIH) Short Interest Down 36.1% in December

NMI Holdings Inc (NASDAQ:NMIH) was the recipient of a significant drop in short interest during the month of December. As of December 29th, there was short interest totalling 1,298,138 shares, a drop of 36.1% from the December 15th total of 2,030,527 shares. Based on an average daily volume of 397,191 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.2% of the shares of the company are short sold.

NMIH has been the topic of several research analyst reports. Zacks Investment Research raised NMI from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Saturday, October 14th. Singular Research started coverage on NMI in a report on Monday, October 16th. They issued a “buy” rating and a $16.00 price objective on the stock. Deutsche Bank raised NMI from a “hold” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $24.00 in a research note on Monday, January 8th. BTIG Research reaffirmed a “buy” rating and issued a $17.00 price target on shares of NMI in a research note on Sunday, November 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $19.50 price target on shares of NMI in a research note on Friday, November 3rd. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.07.

NMI (NASDAQ NMIH) traded up $0.15 during midday trading on Friday, reaching $18.20. The company’s stock had a trading volume of 408,734 shares, compared to its average volume of 487,837. The firm has a market capitalization of $1,092.60, a price-to-earnings ratio of 13.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.24 and a quick ratio of 0.24. NMI has a one year low of $10.10 and a one year high of $20.38.

In related news, COO Claudia J. Merkle sold 15,000 shares of NMI stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $17.80, for a total transaction of $267,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick L. Mathis sold 10,000 shares of NMI stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $16.99, for a total value of $169,900.00. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hancock Holding Co. boosted its stake in NMI by 4.3% during the second quarter. Hancock Holding Co. now owns 17,365 shares of the financial services provider’s stock worth $199,000 after buying an additional 715 shares during the last quarter. Legal & General Group Plc boosted its stake in NMI by 8.8% during the second quarter. Legal & General Group Plc now owns 13,003 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,047 shares during the last quarter. Voya Investment Management LLC boosted its stake in NMI by 10.6% during the second quarter. Voya Investment Management LLC now owns 29,341 shares of the financial services provider’s stock worth $336,000 after buying an additional 2,805 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in NMI by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 233,416 shares of the financial services provider’s stock worth $2,673,000 after buying an additional 3,179 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in NMI by 3.8% during the second quarter. California State Teachers Retirement System now owns 101,002 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 3,700 shares during the last quarter. 83.60% of the stock is currently owned by institutional investors.

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NMI Company Profile

NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).

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